Alpha UK Property Fund Asset has struck a deal with global electric motor supplier WEG for a new 130,000 sq ft warehouse and distribution facility at Lakeside Point in Redditch, Worcestershire.
WEG, which is headquartered in Brazil, has agreed a 10-year lease at the 4.9-acre site at a rent of £4 per sq ft. The company will relocate from its existing base at the nearby Manorside Industrial Estate.
Alpha will give the building a £400,000 facelift before the tenant moves in early next year.
Colliers International and Jones Lang LaSalle advised the landlord; CBRE represented WEG.
lisa.pilkington@estatesgazette.com
